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Jefferson County/Birmingham/35208

35208

ZIPSAFMR
Jefferson County, AL
Zillow

ZIP Investment Score

118Above average

095130300
BRFMR
Eff. Rent
0 BR$1,000$1,010
1 BR$1,070$870
2 BR$1,170$940
3 BR$1,470$1,110
4 BR$1,650$1,400
5 BR$1,897Not available
6 BR$2,182Not available
7 BR$2,509Not available
8 BR$2,886Not available

Purchase Price Calculator

Maximum purchase price
$77,767

Cost breakdown

+Likely effective rent$940
HUD FMR$1,170
Market rentUsed$940
Est. payment standard (90%)$1,050
-Principal and interest-$393
Loan amount$62,214
Down payment$15,553
Rate6.50%
Term30 years
-Operating costs-$347
Property taxes-$78
Insurance-$175
Utilities$0
HOA$0
Management-$94
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,409(99.1% ROI)
Projected value
$83,747
Return breakdown
Property appreciation+$5,980
Loan principal paid down+$2,229
Rental cash flow+$7,200
5-year hold
+$26,194(168.4% ROI)
Projected value
$87,986
Return breakdown
Property appreciation+$10,219
Loan principal paid down+$3,975
Rental cash flow+$12,000
10-year hold
+$55,253(355.2% ROI)
Projected value
$99,548
Return breakdown
Property appreciation+$21,781
Loan principal paid down+$9,471
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.99
1 BR
1.23
2 BR
1.24
3 BR
1.32
4 BR
1.18
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 35208 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 35208 (Birmingham, AL) is $1,170 a month. That is up 9.3% from $1,070 in FY 2026. Birmingham is in the Birmingham-Hoover, AL HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 108 ZIP codes in Jefferson County, 35208 has the 69th-highest two-bedroom rent (county range $920–$2,060). The median county two-bedroom FMR in Alabama is $975, so ZIP 35208 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 35208
BedroomsFY 2027Change90–110% range
Studio$1,000+14.9%$900–$1,100
1BR$1,070+9.2%$963–$1,177
2BR$1,170+9.3%$1,053–$1,287
3BR$1,470+9.7%$1,323–$1,617
4BR$1,650+8.6%$1,485–$1,815

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 35208
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,070$1,170$1,470$1,650
FY 2026$870$980$1,070$1,340$1,520
FY 2025$890$1,000$1,130$1,420$1,580
FY 2024$900$1,020$1,140$1,440$1,600
FY 2023$840$910$1,040$1,330$1,450

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 35208
35202$1,370+17.1%
35203$1,250+6.8%
35204$920−21.4%
35205$1,460+24.8%
35206$1,190+1.7%
35207$1,020−12.8%
35208Current$1,170—
35209$1,690+44.4%
35210$1,340+14.5%
35211$1,230+5.1%
35212$1,040−11.1%
35213$2,060+76.1%

Questions about ZIP 35208 rents

How much will Section 8 pay for a two-bedroom in ZIP 35208?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,170, that basic range is $1,053 to $1,287 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 35208 in?

ZIP 35208 is in the Birmingham-Hoover, AL HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 35208 for FY 2027?

The two-bedroom FMR rose 9.3%, from $1,070 in FY 2026 to $1,170 in FY 2027. Since FY 2023 it has risen 12.5%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentBirmingham, AL fair market rentAL statewide rentsWhat is SAFMR?Data sources